Railsbank partners with Paymentology to add debit card issuing capabilities to the Railsbank open banking platform.
Railsbank, a leading UK-based open-banking and regtech platform, announces that Paymentology, an issuer side payment processor, has joined its partner network.
Paymentology will enable Railsbank’s customers to create innovative card-based products with capabilities that are not possible with any other processor. The move enhances Railsbank’s complete transactional banking platform proposition, offering a one-shop operation for all its customers’ needs.
Founded in 2015 by experts with 18 years of experience within the payments industry, Paymentology sits alongside banks and programme managers to help provide a seamless processing experience.
Brad van Leeuwen, Head of Partnerships at Railsbank, said: “Paymentology is a processor with market-leading capabilities that aligns well with our vision of bringing new financial products and services to market faster than was ever possible before.”
Akshay Patel, Founder of Paymentology, added: “We’re delighted to partner up with Railsbank and their impressive team to help bring their inspiring vision to life. Railsbank has built an innovative banking and compliance platform that we’re proud to be supporting with our leading edge payment processing platform.”
Nigel Verdon, CEO of Railsbank said: “This is a very exciting partnership for us. Paymentology is an innovative new processor which has been built by industry veterans. It provides Railsbank and its customers access to features and functionality that are not available with other legacy processors currently in the market.”
Railsbank is a global banking and compliance platform that gives companies access to wholesale banking services in 5 lines of code.
Founded by serial entrepreneurs and FinTech veterans Nigel Verdon and Clive Mitchell, Railsbank turbo-charges the scaling of businesses by massively reducing the time and complexity of opening bank accounts, streamlining technical integration with banks, enhancing banking functionality with core Railsbank services; and enabling both parties to have a trusted compliance relationship. Awarded the FinTech50 2017, winners of the Simmons & Simmons FinTech Fund in 2016 and Startup Pitch winners at Paris FinTech Forum 2017, Railsbank was also the “Startup-in-Residence” for the 2016 Startupbootcamp FinTech 2016 Cohort.
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Paymentology is an issuer side payment processor specialising in credit, debit and prepaid card processing across the MasterCard and Visa networks.
Paymentology enables its clients to focus on other core areas of their business with the assurance that they have better control over their processing functions. With the founders' skills, knowledge and expertise, as well as listening to the needs and challenges facing banks and card issuers today, Paymentology has identified gaps in legacy platforms that cannot be easily plugged. From this, Paymentology is proud to provide working solutions to the challenges its clients are facing in today's demanding consumer world through three main pinnacles: security, flexibility and reconciliation.
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